TPO launches integrated system for processing NDF loan requests
Head of Trade Promotion Organization (TPO) of Iran announced the launching of an integrated system for processing the requests for loans (in local currency rial) submitted to the National Development Fund (NDF).
NDF loans are made in local currency (rial) or hard currency.
As reported by the TPO portal on Saturday, the mentioned system called “SEPIDAR” was designed by TPO following a government decision on providing a support package for non-oil exporters.
According to Zadboum, a working group comprised of Trade Promotion Organization, National Development Fund (NDF), Export Development Bank of Iran, Export Guarantee Fund of Iran, and the Central Bank of Iran (CBI) were tasked to design a mechanism for using the non-oil export support package which is expected to be spent on improving export infrastructure.
Accordingly, all exporters that are interested in applying for NDF funds, which are provided at preferential rates, can visit the TPO website as from Monday, June 15 to register their application, the official said.
The system automatically processes the information and sends the received requests to the operating banks to pay the requested facilities, he explained.
The deputy minister stated that the NDF facilities for the current Iranian calendar year (started on March 20) amount to 40 trillion rials (about $952.38 million), of which 20 trillion rials (over $476 million) is provided from the NDF resources and the rest is supplied by the banks.
Back in January, Iran’s Resistance Economy Headquarters approved a “Non-Oil Export Support Package” prepared by TPO for the current Iranian calendar year.
The package was developed by the Iranian Trade Promotion Organization, in collaboration with the Ministry of Finance and Economic Affairs, the National Planning and Budgeting Organization (PBO), and the National Development Fund.
source: TehranTimes
Top News
Rio Tinto’s $2.5 billion lithium plan is a win for Milei
Australia’s CEFC invests $75m in homegrown critical minerals
China tightens rules to curb methane emissions from coal mines
BHP seeks Brazil growth to emerge from shadow of mining disaster
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Glencore in talks to sell Philippine copper smelting unit
Iron ore posts weekly gain as investors assess fresh Beijing stimulus
BHP seeks Brazil growth to emerge from shadow of mining disaster
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Arcadium Lithium investors sue miner over Rio Tinto takeover
Skeena advances Eskay Creek permitting, unlocks Orion funding
US foreign investment panel split on Nippon-US Steel deal
Norge Mining acquires Europe’s largest natural graphite producer
Australia’s CEFC invests $75m in homegrown critical minerals
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Arcadium Lithium investors sue miner over Rio Tinto takeover
Skeena advances Eskay Creek permitting, unlocks Orion funding
US foreign investment panel split on Nippon-US Steel deal
Norge Mining acquires Europe’s largest natural graphite producer
